While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Current Positions?
No current positions or working orders
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Stocks..
JJG...looks to test 47.90. Closing over 48.30 will start another leg up.
TBT...78.78 is next fib support. The match it up with the 30 yr. levels.
EWZ...sustaining and closing over 43.90 resistance, will lead to further gains.
IYT...116.00 is the upside pivot.
GOOG...865 is today's short term support and downside pivot.
PCLN...as long as this holds 935 on breaks it remains firm.
Bonds...
30 Yr...132.12 is resistance and the closing upside pivot.
Bunds...need over 140.00 to rally.
FX...
Commodities...
Platinum...1534 will be the weekly pivot.
Copper...341 should cap the early rallies.
Oil...is a big trade. 107.50 is resistance with resting buy stops over.
Silver...23.75 is support and the downside pivot. 24.80-25.00 is the next resistance area.
Corn...Sept (u)...4.97-5.00 is support and the downside pivot.
General Comments or Valuable Insight
Interest rate futures are over sold. Use the opening range as your guide to trade the price action. Day traders should continue to expect 20-30 tick moves.
Spu's hit resistance last night @ 1667, now it's how and where they hold up on breaks. 1655 is support and the downside pivot for another 8-10 points. Let the early NY trade determine the first swing today. Time frame trading.
Short Term View...
Trade instruments off their own technical s
Time Frame Trading.
For Glossary of terms and abbreviations click here.